Needham & Company LLC Raises K2M Group (KTWO) Price Target to $23.00
K2M Group (NASDAQ:KTWO) had its price objective raised by Needham & Company LLC from $20.00 to $23.00 in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the medical device company’s stock.
Other equities research analysts have also recently issued research reports about the company. Piper Jaffray Companies reissued an overweight rating and issued a $28.00 price target on shares of K2M Group in a research note on Tuesday, October 10th. UBS Group reissued a buy rating and issued a $24.00 price target (down previously from $26.00) on shares of K2M Group in a research note on Tuesday, October 10th. BidaskClub cut K2M Group from a buy rating to a hold rating in a research note on Wednesday, December 6th. William Blair reissued an outperform rating on shares of K2M Group in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised K2M Group from a sell rating to a hold rating in a research note on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $24.50.
Shares of K2M Group (NASDAQ KTWO) traded down $0.32 on Tuesday, reaching $20.25. The company’s stock had a trading volume of 326,280 shares, compared to its average volume of 412,764. K2M Group has a fifty-two week low of $16.44 and a fifty-two week high of $25.99. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. The firm has a market cap of $877.40, a PE ratio of -21.09 and a beta of 1.34.
K2M Group (NASDAQ:KTWO) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). K2M Group had a negative return on equity of 16.02% and a negative net margin of 16.22%. The firm had revenue of $62.65 million during the quarter, compared to analyst estimates of $62.69 million. During the same period in the previous year, the company earned ($0.19) EPS. K2M Group’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts forecast that K2M Group will post -0.85 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of KTWO. Macquarie Group Ltd. grew its stake in K2M Group by 0.3% during the second quarter. Macquarie Group Ltd. now owns 200,656 shares of the medical device company’s stock worth $4,888,000 after purchasing an additional 581 shares during the period. Wells Fargo & Company MN grew its stake in K2M Group by 0.9% during the second quarter. Wells Fargo & Company MN now owns 63,322 shares of the medical device company’s stock worth $1,542,000 after purchasing an additional 590 shares during the period. Legal & General Group Plc grew its stake in K2M Group by 41.4% during the second quarter. Legal & General Group Plc now owns 9,561 shares of the medical device company’s stock worth $232,000 after purchasing an additional 2,798 shares during the period. Principal Financial Group Inc. grew its stake in K2M Group by 0.6% during the second quarter. Principal Financial Group Inc. now owns 461,922 shares of the medical device company’s stock worth $11,252,000 after purchasing an additional 2,942 shares during the period. Finally, Gabelli Funds LLC grew its stake in K2M Group by 28.0% during the third quarter. Gabelli Funds LLC now owns 18,300 shares of the medical device company’s stock worth $388,000 after purchasing an additional 4,000 shares during the period. 97.95% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/needham-company-llc-raises-k2m-group-ktwo-price-target-to-23-00/1804764.html.
K2M Group Company Profile
K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.
Receive News & Ratings for K2M Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for K2M Group and related companies with Analyst Ratings Network's FREE daily email newsletter.